Billionaire Guts Media Firm Weeks After Glitzy Dubai Launch
By and Ainsley Thomson
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It was meant to be the last hurrah of a billionaire's near five decades of deal-making — and a second shot at success in the media business.
Naguib Sawiris, who'd built a $8.4 billion fortune in some of the world's toughest markets, set up Moniify last year as a kind of CNBC for the TikTok generation. Based out of booming Dubai, it was envisaged as a new media platform to dispense the secrets of wealth-building to an ambitious young audience across key emerging markets. And all backed by someone who'd done it himself.
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